Gavin Lumsden

Mostly early morning news & views on investment companies, funds & markets by Gavin Lumsden, head of news @QuotedData. Formerly @Citywire & @thetimes.

[Gavin Lumsden @FundFanatic]

HgCapital #HGT has branched into the green energy market with the £1.9bn private equity fund investing £6.1m in Brussels-based software firm 3E, which helps wind, solar, and battery farm operators track performance.
https://t.co/au0U1dh1f1

[Gavin Lumsden @FundFanatic]

Literacy Capital #BOOK confirmed 4.7% hit from its shock writedown & exit from flexible office provider Cubo Work but said rest of its private equity portfolio was doing well with top 10 holdings growing revenues at a 37% annualised rate in Q3.
https://t.co/FHB5FwRkJl

[Gavin Lumsden @FundFanatic]

Foresight Environmental Infrastructure #FGEN strengthened its balance sheet selling its remaining 49% stake in six anaerobic digestion facilities to 3i Infrastructure #3IN backed Future Biogas for £104m. https://t.co/CiHr37tSFP

[Gavin Lumsden @FundFanatic]

TEK4’s £42m AIM flotation “got off to a flyer” as shares in the Leicestershire-based laser technology specialist soared nearly 50%.

https://t.co/xFwId82NNY

[Gavin Lumsden @FundFanatic]

FitzWalter Capital, the activist investor that made a failed takeover attempt for Auction Technology Group, has called for the removal of the FTSE 250 group’s chairman before a sales process is launched.

https://t.co/5cx9FXtThg

[Gavin Lumsden @FundFanatic]

Elon Musk denies trying to talk down value of indebted AI cloud providers with his “guppy-level death” warning based on debt markets shutting to companies that only had data centre revenues. “SpaceX is not buying any neoclouds. Pointless,” he said.

https://t.co/hn7TQfNYb7

[Gavin Lumsden @FundFanatic]

Meta Platforms’ $95bn share issuance plans draw interest of up to $5bn from Nvidia, Advanced Micro Devices and Broadcom, adding to concerns about a circular flow of capital in the AI industry as chip suppliers help finance one of their biggest customers.

https://t.co/p0z5X6TSUO

[Gavin Lumsden @FundFanatic]

Anthropic #ANT, the $965bn AI developer held by Baillie Gifford’s #SMT #MNTN #USA & also #RCP & #PIN, published its IPO prospectus for a Nasdaq flotation detailing lots of risks & growth but no info on number of shares to be sold or their price.

https://t.co/ci1UBC6r3y

[Centre Ground Finder @citysmugger]

@FundFanatic Wells Fargo have always been the most likely suitor for Barclays

But even then, a full acquisition will be insanely hard to execute and achieve. Barc trades at a discount sure, but it's not a basket case like some other Bulges (tut tut UBS, Credit Suisse etc)

[pickafund @pickafund]

WS Blue Whale Growth Fund very strong vs 222 peers in Global Large-Cap Growth Equity category
https://t.co/pK2FkP1C7P
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[surface4air @Surface4air]

@FundFanatic It is just reverting to pre election levels having risen circa 20% in October!

[Gavin Lumsden @FundFanatic]

CNBC says the iShares MSCI Brazil ETF (EWZ) plunged nearly 20% in overnight trading following President Lula’s surprise win of a fourth term in office. Look out for BlackRock Latin American #BRLA later as the investment trust has 64% in Brazil.

[Gavin Lumsden @FundFanatic]

NatWest is banker to a 2nd alleged “mini bond” scam, says The Times.
Already spotlighted for its relationship with 79th Group, which collapsed last year, the bank is also exposed to Hunter Jones, a group the FCA says operates a Ponzi scheme.

https://t.co/WJFcX9SBgp

[Gavin Lumsden @FundFanatic]

Top European luxury groups have shed about €250bn of market value this year as spending by Chinese consumers wilts. @ft notes that results from LVMH, Hermes, and Gucci owner Kering this month all missed market expectations.

[Financial Times @FT]

Luxury groups’ value drops by €250bn as Chinese consumer demand fades https://t.co/W9dBDHiLZ6

[Gavin Lumsden @FundFanatic]

Deutsche Bank chief UK economist Sanjay Raja says market’s forecast of 4 interest rate rises are “baked-in risk premia”. Excluding those, “there is only really 50bps of hikes pencilled in,” taking BoE base to 4.25% by Feb. Other economists @guardian agree. https://t.co/jPG2NvMBLM

[Gavin Lumsden @FundFanatic]

@investor_shy @TheSecretAcct @boazweinstein Great performers? Saba’s UKIT has had a decent start since March +11.5% but the #BRW and #SABA US funds are both on 17% discounts after a much more mixed performance in recent years.

[Gavin Lumsden @FundFanatic]

Baillie Gifford urged the Financial Conduct Authority to move faster on introducing new reforms to protect investment trusts ‘from opportunism that is not in the interest of shareholders as a whole’ after its #USA trust survived a 3rd Saba bid for control.
https://t.co/Uyber8gnQw

[Gavin Lumsden @FundFanatic]

BlackRock Smaller Companies #BRSC manager Roland Arnold complained that his top 10 holdings all increased earnings forecasts but half underperformed market & half “de-rated” as £632m trust reported a flat half yr to 31 August vs 4.3% gain in its benchmark. https://t.co/QtjhPzkVvj

[Gavin Lumsden @FundFanatic]

Marwyn Value Investors has released plans for a 2026 realisation class. James Carthew, a shareholder whose Citywire article on #MVI I posted here, isn’t keen. “I couldn't recommend ticking the realisation class box given my experience,” he said on LinkedIn
https://t.co/9GSVmqxaUk

[Gavin Lumsden @FundFanatic]

Sunday Times says chancellor John Healey will unveil billions of £s of defence spending in Wednesday’s budget. It also reports Airbus’ warning of big job losses in Portsmouth & Stevenage if MoD moves UK Skynet satellite system contract to Lockheed Martin.

https://t.co/qdW3C95qpD

[Gavin Lumsden @FundFanatic]

Barclays #BARC is on bid alert, says the Daily Mail, after its share price fell by a quarter in the past two months valuing the bank at £55bn, a 40% discount to European peers and below its net asset or book value.
https://t.co/8T32AI6XB9